Merchants National Bank 401(k) match, vesting and fees
What Merchants National Bank's 401(k) plan says about matching contributions
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Empower Annuity Ins Co of America | Schedule C ↗ |
| Independent auditor | Forvis Mazars (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
How the plan compares
Plan year 2024 medians for 3,409 defined-contribution plans in finance and insurance with 100 to 499 participants.
| Merchants National Bank: employer contribution per participant | $5,150 | |
| Peer median | $2,868 |
| Merchants National Bank: average balance | $119,078 | |
| Peer median | $95,281 |
| Merchants National Bank: admin expenses ÷ assets | 0.08% | |
| Peer median | 0.22% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $20.6M at the end of plan year 2021 to $23M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 194 | $23M | $994K | $5,150 | 0.08% | Not published | Form 5500 ↗ |
| 2023 | 204 | $20.1M | $1M | $5,031 | 0.04% | Not published | Form 5500 ↗ |
| 2022 | 194 | $17.4M | $1M | $5,275 | <0.01% | Not published | Form 5500 ↗ |
| 2021 | 194 | $20.6M | $776K | $4,023 | 0.01% | Not published | Form 5500 ↗ |
Common questions
Does Merchants National Bank match 401(k) contributions?
The match terms for the The Merchants National Bank Profit Sharing and 401(k) Savings Plan have not been published from its filing yet. The plan year 2024 filing reports $994K in employer contributions, about $5,150 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Merchants National Bank 401(k) match vested?
The vesting schedule for the The Merchants National Bank Profit Sharing and 401(k) Savings Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Merchants National Bank 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Empower Annuity Ins Co of America. The plan administrator is The Merchants National Bank.
I left Merchants National Bank. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (The Merchants National Bank, (937) 393-1993) or the recordkeeper, Empower Annuity Ins Co of America. The Merchants National Bank old 401(k) page lists the contacts from every plan filing. Find an old Merchants National Bank 401(k)
Data from the public Form 5500 annual reports Merchants National Bank filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Merchants National Bank. Not financial advice. Report a correction · Methodology